Analysts agree with China: Beijing isn't manipulating its currency

The People’s Bank of China has responded to the U.S. Treasury Department’s classification of China as a currency manipulator by pointing out that Beijing does not meet the Treasury’s own criteria for the label, arguing that the decision was instead based solely on the escalating U.S.-China trade tensions. Many U.S. analysts agree. “The Chinese side expresses deep regret over this act,” China’s central bank said in a statement on Tuesday, addressing the Treasury announcement. “Such a label is not consistent...